Caas Capital Management LP Buys Shares of 15,300 Carnival Corporation (NYSE:CCL)

Caas Capital Management LP acquired a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,300 shares of the company's stock, valued at approximately $299,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Prestige Wealth Management Group LLC lifted its position in Carnival by 23.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company's stock valued at $54,000 after purchasing an additional 408 shares during the period. KBC Group NV lifted its position in Carnival by 0.8% during the first quarter. KBC Group NV now owns 73,391 shares of the company's stock valued at $1,433,000 after purchasing an additional 553 shares during the period. Kentucky Retirement Systems lifted its position in Carnival by 0.9% during the first quarter. Kentucky Retirement Systems now owns 70,058 shares of the company's stock valued at $1,368,000 after purchasing an additional 638 shares during the period. Avantax Advisory Services Inc. lifted its position in Carnival by 1.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 45,816 shares of the company's stock valued at $1,142,000 after purchasing an additional 770 shares during the period. Finally, Rothschild Investment LLC lifted its position in Carnival by 7.3% during the first quarter. Rothschild Investment LLC now owns 11,740 shares of the company's stock valued at $229,000 after purchasing an additional 800 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CCL shares. BNP Paribas started coverage on shares of Carnival in a report on Thursday, March 27th. They issued an "outperform" rating and a $26.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Northcoast Research started coverage on shares of Carnival in a report on Friday, April 25th. They issued a "neutral" rating for the company. Bank of America lifted their price objective on shares of Carnival from $30.00 to $31.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Susquehanna lifted their price objective on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.65.

Carnival Price Performance

NYSE CCL traded down $0.43 during trading hours on Friday, hitting $28.67. 14,572,616 shares of the company's stock traded hands, compared to its average volume of 25,241,234. Carnival Corporation has a 52-week low of $13.78 and a 52-week high of $30.46. The company has a market capitalization of $33.47 billion, a PE ratio of 15.50, a PEG ratio of 0.64 and a beta of 2.61. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The firm's 50-day moving average is $24.18 and its 200-day moving average is $23.05.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. During the same quarter in the prior year, the company earned $0.11 EPS. Carnival's revenue was up 9.5% compared to the same quarter last year. Equities analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Carnival Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.